FHYS vs. THY

Last updated Jun 4, 2026

FHYS (Federated Hermes Short Duration High Yield ETF) and THY (Agility Shares Dynamic Tactical Income ETF) are both High Yield Bonds funds. Both are actively managed. Over the past 3 years, FHYS returned 7.83%/yr vs 5.21%/yr for THY. A 0.57 correlation means they provide meaningful diversification when combined. FHYS charges 0.51%/yr vs 1.36%/yr for THY.

Performance

FHYS vs. THY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Short Duration High Yield ETF (FHYS) and Agility Shares Dynamic Tactical Income ETF (THY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHYS achieves a 1.48% return, which is significantly higher than THY's 0.45% return.

FHYS

• 1D: -0.16%
• 1M: 0.46%
• YTD: 1.48%
• 6M: 1.89%
• 1Y: 6.49%
• 3Y*: 7.83%
• 5Y*: —
• 10Y*: —

THY

• 1D: -0.26%
• 1M: -0.43%
• YTD: 0.45%
• 6M: 0.64%
• 1Y: 4.31%
• 3Y*: 5.21%
• 5Y*: 1.71%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FHYS vs. THY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FHYS Federated Hermes Short Duration High Yield ETF	1.48%	7.72%	7.23%	10.88%	-7.31%	0.98%
THY Agility Shares Dynamic Tactical Income ETF	0.45%	4.44%	5.38%	4.97%	-5.62%	0.70%

Correlation

The correlation between FHYS and THY is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (All Time) Calculated using the full available price history since Dec 20, 2021	0.57

The correlation between FHYS and THY has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.

FHYS vs. THY - Sectors Allocation Comparison

Sectors	FHYS	THY
Communication Services	91.7%	-
Industrials	8.3%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.1%
Financial Services	-	99.9%
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FHYS vs. THY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FHYS

FHYS Risk / Return Rank: 82
FHYS Sharpe Ratio Rank: 76
FHYS Sortino Ratio Rank: 85
FHYS Omega Ratio Rank: 85
FHYS Calmar Ratio Rank: 77
FHYS Martin Ratio Rank: 89

THY

THY Risk / Return Rank: 44
THY Sharpe Ratio Rank: 41
THY Sortino Ratio Rank: 43
THY Omega Ratio Rank: 41
THY Calmar Ratio Rank: 55
THY Martin Ratio Rank: 41

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FHYS vs. THY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Short Duration High Yield ETF (FHYS) and Agility Shares Dynamic Tactical Income ETF (THY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FHYS	THY	Difference
Sharpe ratio: Return per unit of total volatility	2.44	1.46	+0.98
Sortino ratio: Return per unit of downside risk	3.82	2.18	+1.65
Omega ratio: Gain probability vs. loss probability	1.52	1.27	+0.25
Calmar ratio: Return relative to maximum drawdown	3.92	2.70	+1.22
Martin ratio: Return relative to average drawdown	20.21	6.56	+13.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHYS vs. THY - Sharpe Ratio Comparison

The current FHYS Sharpe Ratio is 2.44, which is higher than the THY Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of FHYS and THY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FHYS	THY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	1.46	+0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.48	+0.43

Drawdowns

FHYS vs. THY - Drawdown Comparison

The maximum FHYS drawdown since its inception was -11.62%, which is greater than THY's maximum drawdown of -8.56%. Use the drawdown chart below to compare losses from any high point for FHYS and THY.

Drawdown Indicators

	FHYS	THY	Difference
Max Drawdown Largest peak-to-trough decline	-11.62%	-8.56%	-3.06%
Max Drawdown (1Y) Largest decline over 1 year	-1.66%	-1.60%	-0.06%
Max Drawdown (3Y) Largest decline over 3 years	-3.16%	-2.74%	-0.42%
Max Drawdown (5Y) Largest decline over 5 years	—	-8.56%	—
Current Drawdown Current decline from peak	-0.16%	-0.83%	+0.67%
Average Drawdown Average peak-to-trough decline	-2.29%	-2.61%	+0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	0.66%	-0.34%

Volatility

FHYS vs. THY - Volatility Comparison

The current volatility for Federated Hermes Short Duration High Yield ETF (FHYS) is 0.76%, while Agility Shares Dynamic Tactical Income ETF (THY) has a volatility of 0.93%. This indicates that FHYS experiences smaller price fluctuations and is considered to be less risky than THY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHYS	THY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	0.93%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	2.18%	1.87%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	2.67%	2.97%	-0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.95%	4.55%	+0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.95%	4.48%	+0.47%

FHYS vs. THY - Expense Ratio Comparison

FHYS has a 0.51% expense ratio, which is lower than THY's 1.36% expense ratio.

Dividends

FHYS vs. THY - Dividend Comparison

FHYS's dividend yield for the trailing twelve months is around 5.77%, more than THY's 5.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FHYS Federated Hermes Short Duration High Yield ETF	5.77%	5.96%	6.42%	6.76%	6.25%	0.16%	0.00%
THY Agility Shares Dynamic Tactical Income ETF	5.40%	6.00%	5.09%	4.59%	2.56%	3.46%	2.53%

Frequently Asked Questions

Can I hold both FHYS and THY in my portfolio?

FHYS and THY have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHYS or THY?

THY has higher volatility (0.93%) compared to FHYS (0.76%). In terms of maximum drawdown, FHYS dropped -11.62% vs THY's -8.56%.

Which ETF is better, FHYS or THY?

On 3-year performance, FHYS leads with 7.83% vs 5.21% for THY. On fees, FHYS is cheaper at 0.51% per year. On volatility, FHYS has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FHYS or THY?

Over the 3-year period, FHYS has performed better with a 7.83% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FHYS or THY?

FHYS is cheaper with a 0.51% expense ratio, compared with 1.36% for THY.

Which ETF pays a higher dividend yield, FHYS or THY?

FHYS has the higher dividend yield at 5.77%, compared with 5.40% for THY.

What is the main difference between FHYS and THY?

They also come from different issuers: Federated and Toews Corp.. Their fees differ too: 0.51% for FHYS and 1.36% for THY.

Which has better risk-adjusted returns?

FHYS currently has the higher Sharpe Ratio (2.44 vs 1.46), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.